Whether you want to renovate your home to help it sell faster or are debating between renovation projects based on value as well as preference, know that not all home renovations increase the value of your property. Here are a few tips on how to add value to your home while increasing its general appeal.
Upgrade the Bathroom
The first question to ask is how many bathrooms your neighbors have. A three bedroom two bathroom house is the norm in modern towns, but older homes may only have one bathroom. Younger home buyers are going to consider the house to be inferior because it only has one bathroom.
In these cases, you’ll have a hundred percent ROI on the addition of a second bathroom. Even a half bath that puts a toilet and sink under the stairs or in a former closet provides a decent return on the investment. Matching the bathroom count seen in comparable homes is more important than turning the master bathroom into a spa-like space.
What if you have as many bathrooms as the neighbors? Now you can start to consider bathroom upgrades like a universal design bathroom with a walk-in shower or a large jetted tub.
Add a Garage
The average family has two cars, and some households have as many (or more) cars than adults. Yet most homes don’t have enough parking for these vehicles. Competing for limited parking on the street increases the risk of an accident.
Fighting over parking in the garage or covered parking spot just brings the conflict home. What’s the solution? Try adding an oak garage.
This gives you an attractive attached or detached garage that will even be approved in conservation areas. It is cheaper than a brick structure, and it can go up much faster. You can integrate storage into the garage’s design, and now you can empty the junk out of your house and put it in the garage while still having space for your cars.
Extend the Living Space
A home’s value is based on the amount of usable living space. Yet it is expensive to pour more foundation and build. This is why sunrooms, finished basements and decks that double as outdoor living areas have a sixty to seventy percent ROI. Just don’t reduce the bedroom count trying to open up the living room.
A Kitchen Remodel
The best ROI you’ll get for a kitchen remodel is updating an older kitchen. A kitchen full of modern, energy-efficient appliances is a selling point even if the rest of the house is dated.
Another factor is the usability of the kitchen. It doesn’t matter how big the dining room is if it is awkward to move from the sink to oven to refrigerator. If you can’t open the refrigerator and oven at the same time, you need to renovate it so that the kitchen doesn’t feel cramped.
Suppose the kitchen is usable and has up to date appliances. Then you can consider updating the design elements and fixing little things. For example, replace ripped up linoleum or cracked tiles before you update the splash board’s design. Replace loose hardware on cabinets before you decide to replace the cabinetry. Or you could resurface the counters instead of putting in a new, luxury countertop material.